Cash flow NN Group N.V.

Equities

NN

NL0010773842

Life & Health Insurance

Market Closed - Euronext Amsterdam Other stock markets 16:55:00 13/05/2026 BST			After hours 19:31:41
75.58 ^EUR	+0.93%		76.02	+0.58%

02-18	Dutch insurer ASR beats 2025 forecasts, signals potential M&A spending	RE
02-18	AlphaValue/Baader Europe Lifts NN Group Estimates After 'Strong' FY25 Results	MT

bb406183053b4f3b7ef9a70d755edaf.PlRdViBc9yGdN_F-nDNn2zeaokkGLN2q_eUxfXZ0Hz8.byw5A1FvgRjYfZs423EImG_clzNRVo_AmZAEMgISWXxaHREASx2dV6hdgg

Published financial data: NN GROUP N.V.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Premiums and Annuity Revenues	12.82B	12.1B	8.17B	8.22B	8.94B
Total Interest And Dividend Income	3.88B	3.95B	-1.72B	-664M	2.41B
Gain (Loss) on Sale of Investments, Total (Rev)	1.67B	-267M	3.67B	4.05B	1.99B
Other Revenues, Total	713M	-549M	151M	1.02B	1.01B
Total Revenues	19.08B	15.23B	10.26B	12.62B	14.34B
Policy Benefits	11.94B	10.73B	5.14B	5.09B	5.55B
Policy Acquisition / Underwriting Costs, Total	1.27B	1.35B	363M	415M	432M
Amortization of Goodwill and Intangible Assets - (IS)	33M	33M	-	-	-
Selling General & Admin Expenses, Total	72M	90M	3.05B	2.71B	2.86B
Provision For Loan Losses - (Ins. / REIT / Utility Templates)	13M	-35M	-	-	-
Salaries And Other Employee Benefits	1.42B	1.53B	-	-	-
Other Operating Expenses	939M	1.04B	-48M	-245M	-181M
Reinsurance Income Or Expense	-	-	-236M	-198M	-227M
Total Operating Expenses	15.67B	14.8B	8.75B	8.17B	8.89B
Operating Income	3.42B	428M	1.52B	4.45B	5.46B
Interest Expense, Total	-521M	-612M	-	-3.2B	-2.97B
Currency Exchange Gains (Loss)	672M	766M	-	673M	-852M
EBT, Excl. Unusual Items	3.57B	582M	1.52B	1.92B	1.63B
Restructuring Charges	-31M	-27M	-	-	-
Total Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) on Sale of Assets	53M	15M	16M	13M	-123M
Asset Writedown	241M	-8M	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	3.83B	562M	1.53B	1.94B	1.51B
Income Tax Expense	669M	85M	348M	334M	312M
Earnings From Continuing Operations	3.16B	477M	1.18B	1.6B	1.2B
Earnings Of Discontinued Operations	127M	1.09B	-	-	-
Net Income to Company	3.29B	1.56B	1.18B	1.6B	1.2B
Minority Interest	-12M	-2M	-12M	-19M	-9M
Net Income - (IS)	3.28B	1.56B	1.17B	1.58B	1.19B
Preferred Dividend and Other Adjustments	59M	58M	51M	66M	82M
Net Income to Common Incl Extra Items	3.22B	1.5B	1.12B	1.52B	1.11B
Net Income to Common Excl. Extra Items	3.09B	417M	1.12B	1.52B	1.11B
Per Share Items
Net EPS - Basic	10.42	5.09	4.04	5.58	4.17
Basic EPS - Continuing Operations	10.01	1.41	4.04	5.58	4.17
Basic Weighted Average Shares Outstanding	309M	296M	277M	272M	265M
Net EPS - Diluted	10.41	5.09	4.04	5.58	4.17
Diluted EPS - Continuing Operations	10	1.41	4.04	5.58	4.17
Diluted Weighted Average Shares Outstanding	309M	296M	278M	272M	265M
Normalized Basic EPS	7.18	1.22	3.37	4.35	3.82
Normalized Diluted EPS	7.17	1.22	3.37	4.35	3.81
Dividend Per Share	2.49	2.79	3.2	3.44	3.88
Payout Ratio	14.95	31.5	42.58	48.26	88.3
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	3.48B	495M	1.59B	4.53B	5.52B
EBITA	3.45B	461M	1.55B	4.49B	5.49B
EBIT	3.42B	428M	1.52B	4.45B	5.46B
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	17.46	15.12	22.72	17.25	20.68
Total Current Taxes	480M	64M	375M	140M	321M
Total Deferred Taxes	189M	21M	-27M	194M	-9M
Normalized Net Income	2.22B	362M	936M	1.18B	1.01B
Non-Cash Pension Expense	-7M	-16M	-2M	-1M	4M
Supplemental Operating Expense Items
Advertising Expense	66M	85M	85M	85M	88M
Selling and Marketing Expenses	66M	85M	85M	85M	88M
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., SG&A Exp. (Total)	6M	5M	5M	5M	6M
Total Stock-Based Compensation	6M	5M	5M	5M	6M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Investment In Debt Securities	95.92B	70.6B	66.13B	65.2B	61.06B
Investment In Equity and Preferred Securities, Total	18.88B	17.57B	10.15B	10.15B	10.66B
Trading Asset Securities, Total	991M	681M	49.39B	54.97B	56.57B
Real Estate Owned	2.72B	2.75B	2.62B	2.51B	2.23B
Mortgage Loans	60.71B	61.19B	21.39B	22.18B	22.32B
Policy Loans	937M	753M	-	-	-
Total Other Investments	-	-	101M	54M	53M
Total investments	180B	154B	150B	155B	153B
Cash And Equivalents	6.93B	6.67B	8.21B	6.93B	6.4B
Reinsurance Recoverable - (IS)	1.02B	1.13B	733M	680M	552M
Other Receivables - (Insurance Template)	8.71B	8.44B	42.3B	40.29B	37.96B
Deferred Policy Acquisition Costs - (BS)	1.89B	1.86B	-	-	-
Separate Account Assets	39.26B	34.56B	-	-	-
Gross Property Plant And Equipment	935M	996M	1.03B	1.07B	1.11B
Accumulated Depreciation	-521M	-597M	-686M	-771M	-797M
Net Property Plant And Equipment	414M	399M	348M	302M	313M
Goodwill	549M	871M	892M	869M	875M
Other Intangibles, Total	384M	410M	378M	360M	314M
Restricted Cash	803M	5B	3B	2.58B	3.4B
Other Current Assets, Total	10.54B	2.45B	2.49B	2.68B	1.33B
Deferred Tax Assets Long-Term (Collected)	47M	904M	146M	94M	201M
Other Long-Term Assets, Total	886M	863M	672M	525M	657M
Total Assets	252B	217B	209B	210B	205B
Liabilities
Accrued Expenses, Total	436M	496M	711M	673M	541M
Insurance And Annuity Liabilities	119B	111B	145B	148B	141B
Unpaid Claims	6.99B	7.25B	-	-	-
Unearned Premiums	425M	408M	-	-	-
Reinsurance Payable - (BS)	63M	55M	144M	112M	69M
Current Portion of Long-Term Debt	2.22B	6.26B	4.21B	2.8B	4.73B
Long-Term Debt	9.73B	8.89B	9.66B	8.73B	8.69B
Long-Term Leases	294M	255M	233M	229M	269M
Separate Account Liability	37.53B	32.26B	-	-	-
Current Income Taxes Payable	65M	82M	29M	26M	52M
Deferred Tax Liability Current	-4M	-5M	88M	191M	119M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	19.66B	11.84B	12.54B	1.98B	479M
Pension & Other Post Retirement Benefits	144M	44M	53M	45M	79M
Deferred Tax Liability Non-Current	4.82B	428M	471M	573M	497M
Other Non Current Liabilities	15.25B	19.99B	14.62B	25.82B	27.29B
Total Liabilities	217B	199B	188B	189B	184B
Common Stock, Total	38M	35M	34M	32M	32M
Additional Paid In Capital	12.58B	12.58B	12.58B	12.58B	12.58B
Retained Earnings	4.04B	3.96B	-3.02B	-2.94B	-3.02B
Comprehensive Income and Other	18B	1.19B	11.44B	11.89B	11.47B
Total Common Equity	34.65B	17.77B	21.04B	21.57B	21.06B
Minority Interest	266M	63M	79M	85M	93M
Total Equity	34.92B	17.83B	21.12B	21.65B	21.16B
Total Liabilities And Equity	252B	217B	209B	210B	205B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	305M	281M	274M	267M	262M
ECS Total Common Shares Outstanding	306M	281M	274M	267M	262M
Book Value / Share	113.4	63.15	76.83	80.65	80.33
Tangible Book Value	33.72B	16.49B	19.77B	20.34B	19.87B
Tangible Book Value Per Share	110.34	58.59	72.19	76.05	75.8
Total Debt	12.24B	15.4B	14.1B	11.76B	13.69B
Net Debt	5.31B	8.73B	5.89B	4.83B	7.28B
Debt Equivalent of Unfunded Proj. Benefit Obligation	138M	40M	49M	41M	76M
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	266M	63M	79M	85M	93M
Equity Method Investments, Total	6.92B	6.56B	6.23B	7.04B	8.07B
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	413M	446M	462M	476M	509M
Full Time Employees	11.87K	11.92K	12.16K	13.5K	13.39K
Part Time Employees	2.62K	3.11K	3.03K	2.94K	2.8K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	3.28B	1.56B	1.17B	1.58B	1.19B
Depreciation, Depletion & Amortization	84M	77M	82M	82M	68M
Amortization of Goodwill and Intangible Assets - (CF)	33M	33M	35M	38M	38M
Total Depreciation, Depletion & Amortization	117M	110M	117M	120M	106M
Amortization of Deferred Charges, Total	33M	36M	35M	37M	33M
(Gain) Loss on Sale of Investments - (CF)	-1.67B	267M	-3.83B	-4.05B	-350M
Total Asset Writedown	-	-	-	-	-
Change in Trading Asset Securities	384M	241M	-	-	-
Change in Other Net Operating Assets (Collected)	-4.05B	-8.86B	37M	-539M	-2.44B
Other Operating Activities	-689M	-1.54B	2.53B	2.45B	-880M
Cash from Operations	-2.59B	-8.18B	62M	-401M	-2.35B
Capital Expenditure	-47M	-38M	-	-	-
Sale of Property, Plant, and Equipment	8M	4M	-	-	-
Cash Acquisitions	-314M	-547M	-18M	-3M	-
Divestitures	72M	1.51B	19M	-	-8M
Sale (Purchase) of Real Estate Properties (Collected)	-32M	-36M	-143M	92M	302M
Investment in Marketable and Equity Securities, Total	1.92B	6.34B	3.92B	-1.03B	-637M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-3.27B	-1.08B	758M	3.51B	1.44B
Other Investing Activities, Total	-171M	-77M	-	-	-
Cash from Investing	-1.83B	6.08B	4.53B	2.56B	1.1B
Long-Term Debt Issued, Total	2.35B	10.58B	10.59B	8.06B	12.02B
Total Debt Issued	2.35B	10.58B	10.59B	8.06B	12.02B
Long-Term Debt Repaid, Total	-2.02B	-6.82B	-12.44B	-10.17B	-9.88B
Total Debt Repaid	-2.02B	-6.82B	-12.44B	-10.17B	-9.88B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-545M	-1.39B	-632M	-529M	-298M
Common Dividends Paid	-490M	-492M	-499M	-764M	-1.05B
Common & Preferred Stock Dividends Paid	-490M	-492M	-499M	-764M	-1.05B
Other Financing Activities, Total	-33M	-122M	-5M	-13M	-
Cash from Financing	-741M	1.76B	-2.99B	-3.41B	794M
Foreign Exchange Rate Adjustments	-	-142M	-72M	-31M	-73M
Net Change in Cash	-5.16B	-485M	1.54B	-1.28B	-525M
Supplemental Items
Cash Interest Paid	634M	592M	762M	1.35B	1.34B
Cash Income Tax Paid (Refund)	397M	145M	270M	304M	-100M
Net Debt Issued / Repaid	327M	3.77B	-1.85B	-2.1B	2.14B
Levered Free Cash Flow	4.3B	-3.61B	-2.39B	-4.79B	-558M
Unlevered Free Cash Flow	4.62B	-3.23B	-2.39B	-2.79B	1.3B
Change In Net Working Capital	-2.38B	3.61B	3.49B	5.73B	2.26B

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	0.83	0.11	0.46	1.33	1.64
Return on Total Capital	4.36	0.67	2.64	8.11	9.99
Return On Equity %	8.58	1.81	5.61	7.49	5.59
Return on Common Equity	8.45	1.59	5.33	7.12	5.19
Margin Analysis
Gross Profit Margin %	30.84	20.46	46.35	56.35	58.27
SG&A Margin	7.83	10.62	29.74	21.46	19.92
EBITDA Margin %	18.25	3.25	15.46	35.88	38.5
EBITA Margin %	18.08	3.03	15.11	35.57	38.29
EBIT Margin %	17.91	2.81	14.77	35.27	38.03
Income From Continuing Operations Margin %	16.57	3.13	11.54	12.69	8.34
Net Income Margin %	17.18	10.26	11.42	12.54	8.28
Net Avail. For Common Margin %	16.2	2.74	10.92	12.02	7.71
Normalized Net Income Margin	11.63	2.38	9.11	9.37	7.05
Levered Free Cash Flow Margin	22.52	-23.72	-23.28	-37.94	-3.89
Unlevered Free Cash Flow Margin	24.23	-21.21	-23.28	-22.08	9.05
Asset Turnover
Asset Turnover	0.07	0.06	0.05	0.06	0.07
Fixed Assets Turnover	44.28	37.47	27.48	38.83	46.65
Receivables Turnover (Average Receivables)	29.26	28.13	26.91	19.77	25.53
Short Term Liquidity
Current Ratio	0.75	0.69	3.73	12.17	11.76
Quick Ratio	0.29	0.32	3.3	10.89	10.65
Operating Cash Flow to Current Liabilities	-0.09	-0.31	0	-0.07	-0.39
Days Sales Outstanding (Average Receivables)	12.48	12.98	13.56	18.51	14.3
Average Days Payable Outstanding	197.06	216.38	12.16	8.51	5.52
Long Term Solvency
Total Debt/Equity	35.06	86.37	66.76	54.3	64.71
Total Debt / Total Capital	25.96	46.34	40.04	35.19	39.29
LT Debt/Equity	28.72	51.28	46.84	41.38	42.35
Long-Term Debt / Total Capital	21.26	27.52	28.09	26.82	25.71
Total Liabilities / Total Assets	86.12	91.79	89.89	89.71	89.68
EBIT / Interest Expense	6.56	0.7	-	1.39	1.84
EBITDA / Interest Expense	6.79	0.88	-	1.43	1.87
(EBITDA - Capex) / Interest Expense	6.69	0.82	-	1.43	1.87
Total Debt / EBITDA	3.46	28.63	8.63	2.57	2.46
Net Debt / EBITDA	1.5	16.23	3.61	1.06	1.31
Total Debt / (EBITDA - Capex)	3.51	30.8	8.63	2.57	2.46
Net Debt / (EBITDA - Capex)	1.52	17.46	3.61	1.06	1.31
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	1.82	-20.19	20.64	-4.24	13.66
Gross Profit, 1 Yr. Growth %	5.86	-47.05	45.65	-7.3	17.52
EBITDA, 1 Yr. Growth %	9.05	-85.78	100.13	0.58	21.97
EBITA, 1 Yr. Growth %	9.24	-86.64	103.81	0.52	22.37
EBIT, 1 Yr. Growth %	9.13	-87.48	108.82	0.45	22.56
Earnings From Cont. Operations, 1 Yr. Growth %	74.65	-84.92	119.26	35.3	-25.28
Net Income, 1 Yr. Growth %	72.16	-52.35	-28.27	35.07	-24.95
Normalized Net Income, 1 Yr. Growth %	64.48	-83.69	103.92	26.44	-14.53
Diluted EPS Before Extra, 1 Yr. Growth %	81.24	-85.9	145.14	38.12	-25.27
Net Property, Plant and Equip., 1 Yr. Growth %	-7.59	-3.62	-12.78	-13.22	3.64
Accounts Receivable, 1 Yr. Growth %	0.7	-0.87	186.29	15.21	17.36
Total Assets, 1 Yr. Growth %	-4.61	-13.7	0.93	0.69	-2.6
Common Equity, 1 Yr. Growth %	-9.98	-48.72	0.05	2.5	-2.34
Tangible Book Value, 1 Yr. Growth %	-10.42	-51.1	0.11	2.87	-2.29
Cash From Operations, 1 Yr. Growth %	-137.04	215.42	-100.76	-746.77	485.04
Capital Expenditures, 1 Yr. Growth %	-7.84	-19.15	-	-	-
Levered Free Cash Flow, 1 Yr. Growth %	49.16	-184.07	-95.44	-62.48	-88.33
Unlevered Free Cash Flow, 1 Yr. Growth %	44.45	-169.88	-95.44	-74.59	-146.58
Dividend Per Share, 1 Yr. Growth %	-33.24	12.05	14.7	7.5	12.79
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-2.97	-9.85	-26.66	21.79	4.33
Gross Profit, 2 Yr. CAGR %	1.89	-25.13	-10.09	47.57	4.38
EBITDA, 2 Yr. CAGR %	7.91	-60.63	-32.49	138.96	10.76
EBITA, 2 Yr. CAGR %	7.96	-61.8	-32.96	142.87	10.9
EBIT, 2 Yr. CAGR %	8.04	-63.03	-33.4	147.61	10.95
Earnings From Cont. Operations, 2 Yr. CAGR %	26.23	-48.68	-38.82	72.24	0.55
Net Income, 2 Yr. CAGR %	29.26	-9.43	-40.21	-1.57	0.68
Normalized Net Income, 2 Yr. CAGR %	22.56	-48.21	-35.06	60.58	3.96
Diluted EPS Before Extra, 2 Yr. CAGR %	31.87	-49.45	-36.44	84.01	1.6
Net Property, Plant and Equip., 2 Yr. CAGR %	-5.64	-5.63	-8.32	-13	-5.16
Accounts Receivable, 2 Yr. CAGR %	-11.22	-0.09	-21.29	81.61	16.28
Total Assets, 2 Yr. CAGR %	0.6	-9.27	-8.87	0.81	-0.97
Common Equity, 2 Yr. CAGR %	3.21	-32.06	-22.08	1.27	0.05
Tangible Book Value, 2 Yr. CAGR %	3.16	-33.82	-23.43	1.48	0.26
Cash From Operations, 2 Yr. CAGR %	-18.87	8.08	-84.54	-77.78	515.13
Capital Expenditures, 2 Yr. CAGR %	-42.87	-13.68	-	-	-
Levered Free Cash Flow, 2 Yr. CAGR %	146.09	11.98	-25.43	-69.77	-79.08
Unlevered Free Cash Flow, 2 Yr. CAGR %	111.45	0.47	-28.11	-76.93	-65.59
Dividend Per Share, 2 Yr. CAGR %	81.01	-13.51	13.36	11.04	10.11
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-1.14	-9.09	-18.19	-12.88	19.02
Gross Profit, 3 Yr. CAGR %	1.11	-18.08	-5.06	6.52	36.78
EBITDA, 3 Yr. CAGR %	4.38	-45.09	-20.79	9.15	90.97
EBITA, 3 Yr. CAGR %	4.44	-46.2	-21.11	9.16	93.26
EBIT, 3 Yr. CAGR %	5.69	-47.32	-21.48	9.2	95.86
Earnings From Cont. Operations, 3 Yr. CAGR %	40.81	-37.83	-13.21	-20.29	30.39
Net Income, 3 Yr. CAGR %	43.17	-7.32	-14.93	-21.54	-10.08
Normalized Net Income, 3 Yr. CAGR %	14.93	-37.43	-11.48	-18.91	30.13
Diluted EPS Before Extra, 3 Yr. CAGR %	46.97	-37.41	-9.87	-17.67	36.27
Net Property, Plant and Equip., 3 Yr. CAGR %	39.96	-4.97	-8.08	-9.98	-7.77
Accounts Receivable, 3 Yr. CAGR %	-13.97	-7.9	-14.55	-10.63	57.01
Total Assets, 3 Yr. CAGR %	3.91	-4.41	-7.47	-5.79	-0.34
Common Equity, 3 Yr. CAGR %	12.08	-18.26	-18.24	-14.62	0.05
Tangible Book Value, 3 Yr. CAGR %	12.39	-19.57	-19.32	-15.51	0.21
Cash From Operations, 3 Yr. CAGR %	1.36	27.57	-79.31	-46.33	-33.89
Capital Expenditures, 3 Yr. CAGR %	5.52	-35.86	-	-	-
Levered Free Cash Flow, 3 Yr. CAGR %	8.19	72.03	-6.05	3.67	-77.99
Unlevered Free Cash Flow, 3 Yr. CAGR %	7.8	46.19	-9.28	-15.52	-70.84
Dividend Per Share, 3 Yr. CAGR %	9.43	54.26	-4.98	11.37	11.62
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	5.79	-3.39	-12.27	-9.04	-5.21
Gross Profit, 5 Yr. CAGR %	8.13	-11.35	-3.53	4.64	8.5
EBITDA, 5 Yr. CAGR %	11.22	-31.21	-12.32	8.65	11.58
EBITA, 5 Yr. CAGR %	11.23	-32.08	-12.53	8.68	11.7
EBIT, 5 Yr. CAGR %	11.09	-32.61	-12.14	8.74	11.74
Earnings From Cont. Operations, 5 Yr. CAGR %	21.59	-25.88	0.88	-4.2	-7.95
Net Income, 5 Yr. CAGR %	22.49	-5.84	0.97	-4.2	-9
Normalized Net Income, 5 Yr. CAGR %	17.52	-25.79	-8.54	-4.34	-5.6
Diluted EPS Before Extra, 5 Yr. CAGR %	23.08	-25.64	5.1	-0.6	-5.45
Net Property, Plant and Equip., 5 Yr. CAGR %	36.93	21.61	18.17	-8.27	-6.92
Accounts Receivable, 5 Yr. CAGR %	10.74	-11.81	-16.98	-10.87	-3.34
Total Assets, 5 Yr. CAGR %	8.35	-0.89	-1.4	-3.28	-4.92
Common Equity, 5 Yr. CAGR %	7.91	-6.21	-3.09	-7.89	-11.36
Tangible Book Value, 5 Yr. CAGR %	7.63	-6.15	-3.6	-8.49	-11.99
Cash From Operations, 5 Yr. CAGR %	4.02	8.99	-52.22	-36.68	-19.65
Capital Expenditures, 5 Yr. CAGR %	13.46	11.55	-	-	-
Levered Free Cash Flow, 5 Yr. CAGR %	13.3	-9.88	-6.78	46.49	-27.97
Unlevered Free Cash Flow, 5 Yr. CAGR %	12.93	-12.47	-8.33	21.93	-16.51
Dividend Per Share, 5 Yr. CAGR %	9.94	10.94	10.99	35.25	0.79